This volume was prepared by Jens Ruhose while he was working at the Ifo Institute. It was completed in December 2014 and accepted as a doctoral thesis by the Department of Economics at the University of Munich. It includes four self-contained chapters that contribute to the understanding of the...

"Over the last two months, the COVID-19 pandemic has thrown a robust American economy into disarray, completely shutting down major business sectors and putting millions of people out of work overnight. With so much at stake and with all options seemingly on the table, it is crucial that we...